FACT CHECK: PRESIDENT BIDEN’S ECONOMIC PLANS HAVE ALREADY CREATED FOUR MILLION JOBS, AND THE BUILD BACK BETTER AGENDA WILL CREATE MILLIONS MORE
FOR IMMEDIATE RELEASE: September 7, 2021
PRESS CONTACT: [email protected]
FACT CHECK: PRESIDENT BIDEN’S ECONOMIC PLANS HAVE ALREADY CREATED FOUR MILLION JOBS, AND THE BUILD BACK BETTER AGENDA WILL CREATE MILLIONS MORE
Washington, D.C. — For far too long, our tax system has allowed millionaire and billionaire hedge fund managers to use loopholes — such as the carried interest loophole — to pay a lower rate in taxes than working people. It has to end. The President’s Build Back Better Agenda will put working people first this time, cutting their taxes and lowering the cost of everyday expenses — from health care to child care to energy bills. These investments will also create jobs and grow our economy. By making our tax system fairer by asking Americans earning over $400,000 a year to contribute their fair share, America can afford to invest in everyday families.
“The President has been clear that we have to build an economy that’s fairer for working people, by rewarding work and not just wealth. That means asking the ultra-rich and big corporations to finally step up and pay what they owe, like the rest of us do,” said Building Back Together Executive Director Danielle Melfi. “The fact is that billionaires and mega-corporations raked in billions of dollars in profit during a once-in-a-generation pandemic while working Americans struggled to make ends meet. Now, President Biden is asking for them to contribute just like the rest of us.”
Trickle down economics simply doesn’t work, but President Biden’s economic plans already have — by growing our economy by more than four million jobs to date — and they will continue to, according to leading economists who say the Build Back Better agenda will help the U.S. economy add nearly two million more jobs on average every year over the coming decade.
According to leading economists, the President’s plans won’t cost America jobs — in fact, it will lead to the creation of millions of new good-paying jobs:
- Moody’s Analytics:
- In conjunction with the historic Bipartisan Infrastructure Deal, the Build Back Better Agenda will help the U.S. economy add nearly two million jobs per year over the coming decade.
- Center on Budget and Policy Priorities:
- Increasing the corporate tax rate would make taxes fairer, help to fund an equitable recovery, and would not undermine the strong recovery already underway.
###